Luukko steps down to spend time as spectator, father

The surprise was still evident in Ed Snider’s voice, although several hours had passed Monday since the man he had groomed to run his diversified and very successful sports and entertainment company, Peter Luukko, had called a sudden meeting to tell him he was walking away from it all.

“It’s funny timing,” Snider said about Luukko’s resignation as chief operating officer and president of Comcast-Spectacor. “By some token, I guess Peter was thinking it over a lot, and he thought this is the right time.”

A 25-year employee of the company, Luukko served as company chairman Snider’s right-hand man and overseer to Flyers general manager Paul Holmgren. But he has always had diverse business interests, founding and helping to develop branch companies in arena management and ticket sales, developing subsidiaries Global Spectrum, an arena management firm, Ovations Food Services and New Era Tix.

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To Luukko, 54, the timing is seriously right for him to make this move.

Referencing the multi-faceted companies he’s leaving behind, Luukko said, “I believe the valuation is there at the right time for me to get out and spend some time to evaluate what I want to do next, and get another adventure in life.”

While thanking Snider publicly for what he called “a wonderful partnership,” Luukko said, “I’m excited to move on. I’m excited also to take a little rest.”

He indicated nothing was on his immediate docket except perhaps to serve as advisor to the hockey players in his family.

Luukko, a West Chester resident and father of three children, will take some time to simply enjoy watching his sons play hockey. Elder son Nick, a sixth-round draft choice of the Flyers in 2010, is a junior defenseman for the University of Vermont.

Younger son Max is a defenseman with The Gunnery prep school in Washington, Conn.

“I’ll travel in New England and watch them play, and I’ll be able to relax while doing it,” Luukko said. “That’s exciting for me. What I found is that the past decade has gone by fast and furious. So it’s exciting to be able to do something else.”

In a earlier statement, Snider was quoted as saying Luukko “has been an invaluable partner as we built Comcast-Spectacor into the phenomenal company that it has become.”

But the surprise emanating later from Snider was almost palpable.

“He just wanted to explore his options and cash out of ownership,” Snider said. “I wish him all the luck.”

Even before Luukko’s announced departure, it seemed his business responsibilities within the company were increasing, taking more of his attention.

“Maybe Peter just felt it was time,” Snider said. “It was a tough meeting with him today.”

In an effort to immediately stabilize its management team, the company announced it was bringing back Dave Scott, a recently retired executive vice-president and chief financial officer for Comcast’s cable company. He will serve as acting president of Comcast-Spectacor.

“Acting president,” Snider said. “And just of the company, not the hockey team.”

The company also announced the appointment of Gary Rostick as its chief financial officer. He most recently served as senior vice-president and CFO for Comcast Business Services.

What that leaves is an apparent vacancy at the top level of the hockey team.

“As far as the Flyers are concerned, (senior vice-president) Shawn Tilger will handle the business side and Paul Holmgren all hockey (matters),” Snider said. “I don’t see that it’s going to be a major problem.”

Snider said he’ll be accepting a more active role in overseeing everything, which in corporate language means... “I guess I have to work a little harder now,” he said with a chuckle. “But that won’t be tough.”

Thus, Comcast-Spectacor is being run by a president with an interim title and the Flyers no longer have a club president, as Holmgren’s position will still be that of general manager only.

This despite Holmgren having an assistant in Ron Hextall who seems ready to take the next step if Holmgren were to climb up a rung on the corporate ladder.

Yet Snider said he isn’t planning to shuffle organizational titles or form a search committee for a new club president.

“I’m not even thinking that way,” he said. “We’re OK for now.”

If that were to change, an internal shuffle could see Holmgren move up and Hextall, the old Flyers goalie who won a Cup as an assistant GM in Los Angeles, move into a GM’s chair. Then there might be retro options. Former general manager Bob Clarke, 64, who was Holmgren’s longtime front office boss, is an executive vice-president with the club but hasn’t been very active in club affairs the past few years.

Another potential link to the Flyers’ past is Pat Quinn, 70, who coached both Holmgren and Clarke with the Flyers. He is currently serving as chairman of the Hockey Hall of Fame, but has a long track record of coaching and front office management with the Flyers, Kings, Vancouver Canucks, Toronto Maple Leafs and Edmonton Oilers.

About the Author

Rob Parent is the Daily Times sports editor. He also covers the Flyers as well as writing an occasional column. Reach the author at rparent@delcotimes.com
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